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The Globe has a terrific masthead editorial today that notes the failure of big pharmaceutical companies to live up to their research and development commitments. It notes that those same companies are now demanding further IP reforms as part of the Canada – EU Trade Agreement.

Why aren’t there such things as charitable venture capital orgs? After-all many charities (eg JDRC) contribute to for-profit orgs. It seems to me that charitable donations would go much further if the beneficiaries of donations (R&D orgs) had to contribute returns back to charities. The role of charities like JDRC then would be to encourage R&D firms to take greater risks.

Hey, Michael! Don’t be so ungrateful or narrow minded. What about the bevy of busy lawyers who make gazillions every year doing “research” on their endless litany of pharmaceutical patent cases in the courts? What about all that useful literature and education directed at the medical profession, so that they are better informed about what pills their patients should pop? That takes a lot of “research and development”. And what about all the consumer focus group â€œresearchâ€ that goes into those cute Cialis TV commercials?